Etihad fired their CEO who pioneered their premium strategy (indeed James Hogan brought the concept of an onboard chef over from his time at british midland). They’ve lost billions mostly because of failed investments in other airlines like Alitalia and air berlin.
In response they’ve cut their business and first class car service outside the U.S. and they’re monetizing access to their lounges. They’ve even closed their spa at London Heathrow and they’ve announced plans to devalue their frequent flyer program.